In the United States, the Apple card offers a high -performance savings account option, allowing you to gain much more interests about your money compared to the average basic bank savings account. However, the interest rate of the account was reduced this week, with the annual percentage yield (APY) decreasing from 3.9% to 3.75%.
If you deposited $ 1,000 on the account and kept that balance for a year, it would earn $ 37.50 in interest according to the current APY.
The table below compares the APY of Apple card savings account with some other high -performance popular accounts in the United States.
| Supplier | APy* |
|---|---|
| Ally | 3.70% |
| Discover | 3.70% |
| American Express | 3.70% |
| Capital one | 3.70% |
| Citizens Bank | 3.70% |
| Apple card savings | 3.75% |
| Goldman Sachs Marcus | 3.75% |
| Sofi | 3.80% |
| Barclays | 3.90% |
| PNC bank | 3.95% |
| Synchrony | 4.00% |
| Improvement | 4.00% |
| Wealth | 4.00% |
| Direct UFB | 4.01% |
| Cytic Bank | 4.10% |
| Fierce | 4.25% |
| OpenBank by Santander | 4.40% |
| GDP | 4.60% |
* APYS announced as of March 26, 2025, excluding promotional rates and affiliated bonds. The minimum balance requirements and other conditions vary on account. APYS can change at any time, so we cannot guarantee the accuracy of the rates listed above.
Apple launched its savings account in April 2023, in association with Goldman Sachs. The account can be opened and managed in the application of wallet on the iPhone, and has no rates, minimum deposits or minimum balance requirements. You must have an Apple card, be an American resident and have at least 18 years to open an account.
The account allows Apple card holders to gain interest on their daily reimbursement balance and on the funds deposited through a linked bank account or an Apple balance in cash. The maximum allowed balance is $ 1 million, above $ 250,000 before.
When the account was launched, Apple and Goldman Sachs offered an APY of 4.15%, but the rate has fluctuated, often in line with the changes in the reference rate of the United States Federal Reserve. The APY reached a maximum of 4.5% in early 2024, and the current 3.75% is a historical minimum.
To open a savings account in the wallet application, touch your Apple card, touch the circle with three points, daily touch and select Configure next to the savings.
Goldman Sachs can end your loan association to the consumer with Early Apple, but it is not clear if this will have any impact on Apple card holders. According to recent reports, there are at least three companies in the race to replace Goldman Sachs as a financial partner of the Apple card, including Barclays, Synchrony and JPMorgan Chase.
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